(a) As used in this section, the following terms shall, unless the context clearly requires otherwise, have the following meanings:-

“Gateway Municipalities”, as defined in section 3A of chapter 23A of the General Laws.

“Secretary”, the secretary of housing and economic development.

(b) There shall be a credit against tax due pursuant to chapter 63 of the general laws equal to 5 percent of allowable costs, as determined by the secretary, for corporations operating within gateway municipalities containing a port facility capable of handling ocean going vessels that utilize said port facility for the transport of components used by the corporation or finished goods produced by the corporation.

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